06.06.06
Posted in Get out of a car lease at 10:02 pm by LeasingRus
“As a current car lease owner, I’ve often thought to bust out of a car lease, but assumed the penalties of breaking a car lease would far out-weigh the benefit of sticking with the lease. Then, I ran into someone at the shopping centre and we got to talking, and discovered he had leased a car in the past as well, but managed to get out of the lease without paying the penalties. To my surprise, he found someone to transfer a car lease too. How do I go about finding someone to take over a lease?”
We came across this post online by an individual seeking to bust out of a car lease. Again, this is becoming a popular topic we’re finding of individuals seeking due diligence before leasing a car, and while in a current car lease. Many consumers still feel they need to ride out their car lease, or if they return the vehicle lease early will have to pay a stiff penalty. The answer to this depends on the lease agreement you have with your lease company. Our advice, look at your lease agreement and see if you can bust out of your car lease without paying a penalty by transferring the lease to another individual. If you can, there are a few good marketplaces online where you can advertise your lease for take over.
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05.26.06
Posted in Get out of a car lease, Car lease assumption at 4:46 pm by LeasingRus
What is an auto lease assumption? I’ve heard this question a few times by owners of car leases. It’s actually quite straight forward. A lease assumption is a 3rd party who takes over a lease from the original lessee, under the same terms and conditions outlined in the original car lease agreement. So basically, if you currently lease a car and seeking to get out of a lease, you may want to consider a lease assumption. To find someone to “assume” your car lease, there are a few good online auto lease markplaces where you can post your lease for take over, and contact lessors to take over the lease. Typically, an auto lease assumption means the original lessee walks away from the vehicle lease without any future liability. The person taking over the lease, assumes total liability for the new lease contract. And still, at the end of the car lease term, the new lessee may have the option to buy-out the car lease agreement.
So when someone talks to you about lease assumption, remember, it’s simply an option where another individual can “assume” or take over your car lease agreement.
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05.16.06
Posted in Get out of a car lease, Transfer a car lease, Take over a car lease at 2:13 am by LeasingRus
Question: I still have 15 months left on my lease with the option to buy at the end of the lease. I would like to get out of the lease and trade out now and have found a dealer that is willing to pay the last 15 pmts, the over the mileage the disposition fee and early termination fee. However the lease company will not except that along with the auto they told me if I did the above that It would be like a voluntary repo and would go against my credit. What if anything can I do?
Answer: Dealing with leasing companies can be very confusing. Not everyone you talk to knows the policies of the company they are representing. Furthermore, some differences in state laws come into play. Still, we don’t know why your leasing company would not allow the trade that you have arranged. On the other hand, we don’t know why the dealer would agree to make the last 15 payments and pay the early termination fee. That’s a lot of money just to get you into a new car. Is it possible the dealer is telling you they will do this but they are saying something else to the leasing company?
May we suggest that you speak with a supervisor at the leasing company and verify exactly what it will take to get out of the lease. Get the supervisor’s name and number. Them talk with the dealer and confirm that this is exactly what the dealer is proposing. Or, you can try putting the remainder of your lease on AutoLeaseBusters (to get out of a lease), Lease Trader, Swap a lease, Lease Busters or others to see if someone else will make the remaining payments.
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05.02.06
Posted in Get out of a car lease at 6:28 pm by LeasingRus
TheSteet.com; Lose That Car Lease - You leased a car, and now you hate it. Or you can’t afford it. Or you just found the car of your dreams, but your current car lease runs for two more years. That’s the great disadvantage of leasing a car: You’re stuck.At least, you were stuck, until a few online companies came along to provide a marketplace to help people get out of their car leases - LeaseTrader, Swapalease and Auto Lease Busters.
These online marketplaces for car leases helping people get out of existing car leases and transfer a car lease. On the other side of the transaction, people looking for a shorter-term lease, with no down payment, can find good deals by taking over an existing lease.
These car leasing websites work in a similar model - and as Terry Savage put it, they ”work something like a dating service”. Those people looking to take over a car lease can search for free on either site. You can search in multiple ways, such as by model, dollar amount of the lease or geographic location. Once you’ve found a car lease and want to contact the seller of the lease (some sites charge a fee for this, while others do not).
That’s basically the concept if you’re seeking to get rid of your car lease and find others to take over the lease. A great online model that applies to many other businesses - bringing buyers and sellers together with similar needs.
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04.28.06
Posted in General, Get out of a car lease, Car lease assumption at 6:38 pm by LeasingRus
Getting out of a lease is the most important thing when you have fallen on hard times. Leaseboys helps consumers get out of a lease by helping htem trade a car lease and transfer a car lease in one central online market.
Financial hardship, new baby, divorce or separation, loss of a job or layoff and numerous other reasons can lead to the need in getting out of a lease. The prospective buyer may offer legal ways getting out of a lease but you should be careful when taking over a car lease. Lease termination information is available from both your automobile dealership as well as at AutoTraderLeaseGuide.com. If you need to get out of a lease you can visit AutoTraderLeaseGuide.com, or other sites with good information as Auto Lease Busters, LeaseBoys, Lease Busters, Swap a lease, LeaseTransfer and more. All these resources are experts in regards to lease takeovers.
The lease buyout is another important feature and is sometimes called the residual value. Some residuals are more than the value of the vehicle and could sometimes be the reason of why someone would like to get out of their lease.
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